“Elegance is refusal.”
I’ve been in people’s closets that held items they had not worn in five years (sometimes longer)! When building a wardrobe, don’t hang on to clothes you no longer wear just because you paid money for them at one time or another. If you keep a well-curated closet (in other words, a closet edited with intention), you will have a more accurate idea of what pieces you have and how they can interact. This can help you save your clothing budget for pieces that will truly add a lot of value to your closet.
I know it’s hard to part with certain articles of clothing, though (after all, they’ve seen us through some crazy times!). What I find helpful is to move the items I’m considering “editing” out of my wardrobe to a different closet for a period of time (perhaps a month or so). If I don’t miss them during that time, they go in the donation bin, and it doesn’t seem so difficult to part with them. However, if I’m constantly visiting the other closet to retrieve something, I re-consider keeping it.